What did probe reveal about ₹45-cr fund diversion at HDFC Bank?

According to IE, a vigilance probe at HDFC Bank found that ₹45 crore was disguised as marketing expenditure to pay "differential interest" to Maharashtra's MSRDC in order to secure large deposits. The payout was approved in the presence of CEO Sashidhar Jagdishan. Letters formalising this were not vetted by legal or compliance teams and didn't mention internally agreed 6.01% return.